Retirement Savings Plan (RSP)

Verified 04 May 2026 - Public Service / Directorate of Legal and Administrative Information (Prime Minister), Ministry of Finance

The PER: titleContent is a retirement savings product available since 1er October 2019. It is gradually replacing other retirement savings plans. The PER is divided into 3 types: an individual PER and two company PERs. The individual EPR succeeds the Perp: titleContent and at Madelin contract. The collective company PER (also called Pereco or Perecol) succeeds the Perco: titleContent. The mandatory company PER succeeds the contract article 83. You can transfer savings from old plans already opened to your new PER.

What applies to you ?

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Individual RIP 

The individual PER is open to all. You can take it out with a financial institution or an insurance organization. This new plan succeeds the PERP and the Madelin contract, which are no longer offered since the 1ster October 2020. Your accumulated savings on the Perp and Madelin can be transferred to the individual PER at your request. This contract entitles you to tax benefits and your rights are transferable to other PERs. There are cases of early release.

The individual PER (also called PERIN or PERI) is a long-term savings product. It is entirely funded by your payments, without any help from your employer.

It allows you to save during your working life to get, from retirement age, a capital or a annuity.

The plan leads to the opening of a securities account (bank PER) or the adherence to a group insurance contract (insurance PER).

Since 1er In January 2024, you must be 18 years old to be able to open an individual PER.

He is not more possible to open an individual PER for a minor child since the marketing of climate futures savings plan. PERs already open before 1er January 2024 on behalf of a minor child remains open, but it is no longer possible to make payments until the child reaches the age of 18.

To open an individual PER, there is no condition related to the professional situation. Any individual (over the age of 18) can save on an individual PER: employee, head of company, self-employed, self-employed, self-employed, jobseeker, unemployed or retired.

There is no age limit. But you have to have your legal capacity.

FYI  

One protected major cannot subscribe to an individual PER alone. Depending on the situation, he will need to be assisted (if placed under curatorship) or represented (if placed under guardianship, under family empowerment or under future protection mandate). The PER is a long-term financial investment that affects the protected person's wealth. The opening of a PER on behalf of a protected adult is a act of disposition which must be authorized by the judge.

The individual PER can be opened in one of the following 2 forms: either the bank PER (also called Investment RIP) or the insurance PER.

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Bank PER or Investment PER

The banking PER gives rise to the opening of a securities account . It must be subscribed through a specialist business. This is a business that is an authorized provider to carry out investment advice (banking institution, financial investment company).

Insurance RIP

The insurance PER gives rise to membership in a group insurance contract. It allows investment media in euro fund and in units of account, with a functioning close to life insurance.

It must be subscribed through a specialist business. It is an association that subscribes to group life insurance policies (with an insurance company, a mutual or a provident insurance institution).

It can also be subscribed with a additional occupational pension fund.

FYI  

The insurance PER makes it possible to designate beneficiaries in the event of death. It benefits from a taxation similar to life insurance.

Origin of funds

Each PER, whether individual or collective, shall be organized in 3 separate compartments according to the origin of the funds that feed it :

  • Compartment No. 1 (individual compartment) receives voluntary payments from the plan holder. Within this compartment, in order to determine the taxation applicable at the exit from the plan, the managing bodies distinguish two categories of payments:
    • voluntary payments deductible from the plan holder's taxable income,
    • and voluntary payments for which the holder waives a tax deduction at the time of payment.
  • Compartment No. 2 (collective compartment) shall be funded by payments from the employer of the holder of the plan. It welcomes money from employee savings.
  • Compartment 3 (category compartment) collects the employer's compulsory contributions, possibly supplemented by the employee's compulsory contributions if the company agreement so provides.

FYI  

In the individual PER, compartment No 1 is supplied by the voluntary payments by the plan holder.

Compartments No. 2 and No. 3 are supplied exceptionally in the case of a transfer of savings already constituted on another device (for example in the case of transfer of a company PER on an individual PER, or transfer of a former Perco).

Managed Management

Unless otherwise specified by you, the management of the amounts paid out on the PER shall be based on the principle of managed management. This means that when retirement is far away, savings can be invested in riskier, more rewarding assets. As retirement age approaches, savings are gradually being channeled into less risky vehicles.

There are 4 “retirement horizon” investment profiles: prudent, balanced, dynamic or offensive.

Unless you indicate otherwise, the “balanced retirement horizon” profile will be applied by the manager of your PER.

Information of the holder

The managing body must provide you with information on the characteristics of the plan, its management method and its taxation at the time of the opening of the PER.

Thereafter, each year, he must give you the following information:

  • Evolution of the account
  • Financial performance of investments
  • Amount of fees charged
  • Conditions for transferring plan.

From the 5è In the year preceding the year of your retirement, you can ask the PER manager about exit options that are appropriate for your situation.

The individual PER is first fed by the voluntary payments that you perform.

In addition, if you transfer from a company PER to an individual PER, you can also pay:

  • Sums from profit-sharing, participation and the abundance from your employer to a company PER or PERCO
  • Amounts from the value-sharing premium (PPV) or the premium from the company valuation sharing plan (PPVE)
  • Sums from a time savings account (CET) and assigned to your company PER
  • Mandatory payments made on a mandatory company RIP.

Voluntary payments are free and can be scheduled or one-off.

As long as you are done before your 70th birthdayHowever, the payments are deductible from taxable income as a matter of principle and not deductible on option. The option must be reported to the plan manager at the time of each payment.

There is no cap on voluntary cash payments on the individual PER, but the amount for which you can benefit from a tax benefit is capped.

FYI  

Since 1er In January 2024, retirement savings plans with a holder under the age of 18 can no longer receive voluntary payments. Pre-opened PERs will remain blocked until the child reaches majority.

In principle, your individual PER is blocked until you retire.

But there are cases of early release for “accident of life” and for purchase of the main residence.

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General case

You can unlock your individual PER as soon as possible on the date you receive your retirement pension or when you have reached the legal retirement age (depending on your year of birth).

You then have the choice to request that the savings accumulated in your individual PER be paid:

  • either in capital,
  • or in life annuity,
  • or partially in capital and annuity.

The same applies to employee savings (profit-sharing, participation, contributions, value-sharing premium, company valuation-sharing premium, CET days) that may be transferred to your individual PER.

The capital can be paid in one or more installments.

However, the capital payment will not be possible if you have already opted definitively to open the plan for a life annuity payment.

Early release case

You can recover your savings, in the form of a one-time payment, in advance only in the following cases:

  • Disability (2nd or 3rd category) if you are disabled, or your children, spouse, or Civil partnership partner
  • Death of your spouse or Civil partnership partner
  • Expiry of your unemployment insurance rights or termination of the office of corporate officer for at least 2 years without employment contract and without pension liquidation in a compulsory old-age insurance scheme
  • Over-indebtedness (in this case, the over-indebtedness commission must write to the managing body of the PER)
  • Cessation of self-employed activity following a judgment of judicial liquidation
  • Purchase of your principal residence (but in this case, the rights resulting from compulsory payments remain blocked).

To request the early release of the PER, you must send a letter, preferably recommended, to the managing body, with the following elements:

  • Proof of identity
  • Bank identity statement of the account to which you wish to obtain payment
  • Proof of the exceptional situation of early release that you invoke.

The method of taxation of the capital resulting from early release depends on the reason for release and the origin of the sums.

If the release is based on one of the “accident of life” cases, the part of the released capital corresponding to the payments which fed the PER is exempt from income tax and social security contributions.

The share of the released capital corresponding to the gains generated by these payments is subject to the social levies applicable to investment products.

If the release is motivated by the purchase of the principal residenceHowever, the situation varies depending on whether you have deducted the payments made on the RIP for tax purposes.

If you have deducted the payments for tax purposes, the part of the released capital corresponding to the payments shall be taxed on income tax without deduction of 10%, but exempt from social security contributions.

The share of the unblocked capital corresponding to earnings shall be imposed on the single flat-rate levy (SSF) made by the bank. This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

If you have not deducted the payments, the share of the released capital corresponding to the payments shall be exempt income tax and social security contributions.

The share of the unblocked capital corresponding to earnings shall be imposed on the single flat-rate levy (SSF) made by the bank. This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

Yes, you can keep your PER after you retire or after reaching the statutory retirement age.

The accumulated savings become available in whole or in part, but you do not have to unlock your PER. And if your plan does not include an age limit, you can continue to fund your individual PER provided that you have not already fully liquidated it.

Voluntary payments made to your individual PER after you retire or after reaching the statutory retirement age are immediately available and recoverable at any time.

Provided they are made before your 70th birthday, you can choose to make deductible or non-deductible payments of the plate income tax. Until you turn 70, you have a limited tax deduction every year.

Tax advantage on voluntary payments

Warning  

Since 1er January 2026, payments made to your RIP after your 70th birthday are still possible, but are no longer deductible.

Up to the age of 70, feeding your individual PER allows you to benefit from a tax advantage that consists of reducing the amount of your taxable income.

Indeed, you can deduct from your taxable income of one year, the amounts you paid into your RIP in the same year. But this deduction is limited.

Example :

You declare €30,000 of taxable income and €1,200 payments on your PER.

With the deduction of payments on the PER, your taxable income goes from €30,000 à €28,800.

This results in a tax reduction on income, the amount of which varies depending on the composition of your tax household.

At the time of each voluntary payment, you must inform your PER manager if you choose to deduct your taxable income. If you waive the deduction for the year of payment, you will benefit from a reduced tax rate at the time of the exit of the individual PER.

The annual deduction voluntary payments made before age 70 is limited to one individual ceiling determined each year for each member of your tax home.

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You are an employee

Your personalized ceiling is calculated by the tax services in several stages.

The deduction limit for pension contributions is equal to 10% of your 2025 operating income (net of professional expenses) (with a maximum of €37,680), or to €4,710 if this amount is higher.

This amount is reduced of the following:

  • Contributions to supplementary pension schemes made compulsory in the company for employees (employer's share for its non-taxable amount and employee's share for its amount deductible from salary)
  • Employer's contribution to the Group Retirement Savings Plan (Perco), Group company Retirement Savings Plan (Pereco) or Mandatory Retirement Savings Plan (Pero) up to the amount exempt from income tax
  • Entitlements on the TEC (time savings account) or, in the absence of a TEC, on monetized, exempt leave days (up to 10 days) allocated by the employee to a Perco, a supplementary company pension plan or a Pereco.

The ceiling is increased of the unused deduction limit (or of the portion of the limit) in the previous 5 years, from the oldest to the newest.

However, the unused part of the ceilings for the years 2024 and 2025 can only be used within 3 years. So until 2027 for the 2024 share and until 2028 for the 2025 share.

The unused portion of the 2026 cap (and subsequent years) can be used within 5 years.

Example :

You didn't use your full deduction limit in 2024 and 2025.

Your 2026 contributions are deducted as a priority from your 2026 limit.

The amount that exceeds your 2026 cap is deducted from the remaining portion of your 2024 cap and then from the remaining portion of your 2025 cap.

The personalized ceiling applicable to your contributions paid in 2026 will be indicated on your tax notice 2026 (on 2025 revenues).

It is the sum of the cap calculated on your 2025 income and the unused caps calculated on previous years' income.

You are unemployed or retired without professional income

The ceiling is €4,710.

The ceiling is increased of the unused deduction limit (or of the portion of the limit) in the previous 5 years, from the oldest to the newest.

However, the unused part of the ceilings for the years 2024 and 2025 can only be used within 3 years. So until 2027 for the 2024 share and until 2028 for the 2025 share.

The unused portion of the 2026 cap (and subsequent years) can be used within 5 years.

Example :

You didn't use your full deduction limit in 2024 and 2025.

Your 2026 contributions are deducted as a priority from your 2026 limit.

The amount that exceeds your 2026 cap is deducted from the remaining portion of your 2024 cap and then from the remaining portion of your 2025 cap.

The personalized ceiling applicable to your contributions paid in 2026 will be indicated on your tax notice 2026 (on 2025 revenues).

It is the sum of the cap calculated on your 2025 income and the unused caps calculated on previous years' income.

FYI  

Some special rules shall apply to self-employed persons.

Taxation of annuity or capital

The tax regime for the annuity or capital is different depending on whether or not you have deducted the voluntary payments from your taxable income:

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You have deducted the PER payments from your taxable income

The rules differ depending on the situation:

Annuity outing
In 2025

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

For annuities paid in 2025, the social levies on investment income is of 17.2%

From 2026

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The rate of social levies on investment income is of 18.6%, applicable to annuities paid from 1er January 2026.

Capital outflow
In 2025

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% under the social levies on investment income.

From 2026

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

You have not deducted the PER payments from your taxable income

The rules differ depending on the situation:

Annuity outing

The annuity is taxable at income tax according to the applicable rules life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1er payment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable fraction of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow
In 2025

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% for social security contributions.

From 2026

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

If you die before you unlock your PER, the plan will be closed. Savings must be paid to your heirs or beneficiaries that you have designated in the contract, in the form of capital or annuity.

If you die while the PER was already unlocked and you receive a life annuityHowever, amounts that have not yet been paid to you may be transferred provided that the reversion from the annuity to an already designated beneficiary. If the life annuity is not reversible, the remaining savings will not be distributed.

Following your death, the taxation of the amounts that will be passed on to your heirs or beneficiaries depends on the nature of the plan.

Bank PER or Investment PER

If it is a plan opened in the form of a securities account, the sums saved and transferred shall be incorporated into theestate assets and taxed according to inheritance tax.

Insurance RIP

If it is a plan that has led to the adherence to a group insurance contractHowever, the sums saved and transferred are taxed according to rules similar to life insurance.

The situation varies depending on whether the death of the PER holder occurred before or after 70 years:

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Death before age 70

One abatement from €152,500 shall be applied to the sums due to each beneficiary.

The balance is subject to a direct debit of 20% by co-payment taxable income accruing to each beneficiary less than or equal to €700,000.

The taxable share of each beneficiary greater than €700,000 is subject to a levy of 31.25%.

Death after age 70

Amounts paid by the insurer (savings and earnings) are subject to inheritance tax after application of a abatement from €30,500.

This allowance is global and must be shared between the beneficiaries and distributed according to their share in the taxable sums.

Inheritance tax is calculated on the basis of the relationship between each beneficiary and the holder of the deceased PER.

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Transfer of old savings products to the individual PER

You can transfer retirement savings products that existed before 1er October 2019 on the individual RIP:

  • Popular Retirement Savings Plan - Perp
  • Madelin contract
  • Prefon
  • Group Retirement Savings Plan - Perco
  • Mutual pension supplement - Corem
  • Hospital Retirement Supplement - CRH
  • Contract article 83.

If you have held the product for less than 10 years, the transfer fee may be charged up to a maximum of 5% of the accumulated savings.

The transfer must be made within a maximum of 4 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

FYI  

The tax advantage linked to the transfer of an insurance contract of more than 8 years to a PER (doubling of abatements related to detention) ceased on 31 December 2022.

Transfer from the individual PER to another PER

You can transfer the accumulated savings on the individual PER to all other PERs.

The transfer is free if you have held the product for at least 5 years or if the transfer occurs after the plan expires.

If you have held the product for less than 5 years, the transfer fee may be charged, up to a limit of 1% of the accumulated savings.

From the receipt of the transfer request and the supporting documents, the plan manager shall have a period of 2 months to transmit to the new manager the information necessary to carry out the transfer.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

Collective company RIP

The collective company PER (also called PERECO or PERECOL) is a plan open to all employees of a company, without subscription obligation. This new product succeeds the Perco, which can no longer be implemented since the 1er October 2020. Your company can transform the Perco into a collective company PER. The new plan entitles you to tax benefits and your rights are transferable to other PERs. The plan's deadline is the retirement age, but with cases of early release.

The collective company PER (also called PERECO or PERECOL) is a long-term savings product. It allows you to save during your period of activity to get, with the help of your company, a capital or a annuity at retirement age. The implementation of this plan by the company is optional.

All companies can offer a collective company PER to their employees, even if they do not have a company savings plan (PEE).

The plan must be open to all employees. However, a seniority condition may be required (3 months maximum).

Membership is optional, but the regulation may provide for automatic membership of all employees. In this case, you must be informed of your membership, under the conditions provided for by the regulation. You then have 15 days to make it known that you refuse to adhere to the plan.

If you change your company, you can transfer your collective company PER:

  • in the PER of your new business
  • or in an individual PER.

FYI  

In a company with less than 250 employees, the Civil partnership partner or spouse of the head of company who has the status of employee can also benefit from the collective company PER.

The collective company EPR can be set up at company level, or in a business-to-business framework.

The plan may be set up at the initiative of the company's directors or by agreement with the employees' representatives. Where there is at least one trade union representative or a social and economic committee in the company (CSE), the employer is obliged to conduct prior negotiations with them before creating the plan.

The company may choose to combine the voluntary group savings plan and the mandatory group savings plan into a single plan. Old savings plans, such as Perco and Article 83, can be transferred into a single plan.

Origin of funds

Each PER, whether individual or collective, shall be organized in 3 separate compartments according to the origin of the funds that feed it :

  • Compartment No. 1 (individual compartment) receives voluntary payments from the plan holder. Within this compartment, in order to determine the taxation applicable at the exit from the plan, the managing bodies distinguish two categories of payments:
    • voluntary payments deductible from the plan holder's taxable income,
    • and voluntary payments for which the holder waives a tax deduction at the time of payment.
  • Compartment No. 2 (collective compartment) shall be funded by payments from the employer of the holder of the plan. It welcomes money from employee savings.
  • Compartment 3 (category compartment) collects the employer's compulsory contributions, possibly supplemented by the employee's compulsory contributions if the company agreement so provides.

Managed Management

Unless otherwise specified by you, the management of the amounts paid on the PER is done according to the principle of managed management. This means that when retirement is far away, savings can be invested in riskier, more rewarding assets. As retirement age approaches, savings are gradually being channeled into less risky vehicles.

The collective company PER must offer you at least one alternative investment medium, which allows you to invest in a solidarity fund.

There are 4 “retirement horizon” investment profiles: prudent, balanced, dynamic or offensive.

Unless otherwise specified By you, it is the “balanced retirement horizon” profile that will be applied by the manager of your PER.

Information of the employee

When you are hired, the employer must give you an employee savings book indicating the measures implemented in the company.

If the company has a group company PER in place, it must provide you with a policy that informs you of the plan and its content.

Each year, the manager must give you the following information:

  • Evolution of savings
  • Financial performance of investments
  • Amount of fees charged
  • Conditions for transferring plan.

From the 5e In the year preceding your retirement age, you can ask the PER manager about exit options that are appropriate for your situation.

Payments by the employee

You can fund your collective company PER with:

  • Voluntary payments
  • Sums from profit-sharing
  • Sums from the participation
  • Payments of all or part of the value-sharing premium (PPV) or the premium resulting from the company valuation sharing plan (PPVE)
  • Entitlements on a time savings account (CET) based on the value of the corresponding vacation pay
  • In the absence of CET, amounts corresponding to days of rest not taken, up to a limit of 10 per year.

You can also transfer to your collective company PER funds from another company PER, an individual PER or another retirement savings product (PERP, Madelin, Perco, etc.).

As long as you work in the company, the costs of managing the collective PER are covered by your employer.

There is no cap on voluntary payments on the CEECP, but the annual amount you can deduct from your taxable income is capped.

Payments by employer

The collective company PER may be funded by additional payments from the company, called abundances. The contribution may not exceed 3 times the amount you paid yourself, nor be greater than €7,690.

In addition, even in the absence of payment by the employee, if the plan's regulations so provide, the company may make an initial and periodic supplementation.

In principle, the amounts paid on a Pereco are blocked until the date of receipt of your retirement pension or until the legal age of retirement.

You can recover the savings in advance, as a one-time payment, only in the following cases:

  • Disability (2nd or 3rd category) if you are disabled, or your children, spouse, or Civil partnership partner
  • Death of your spouse or Civil partnership partner
  • Expiry of your unemployment insurance rights or termination of the office of corporate officer for at least 2 years without an employment contract and without pension liquidation in a compulsory old-age insurance scheme
  • Over-indebtedness (in this case, the over-indebtedness commission must write to the managing body of the PER)
  • Cessation of self-employed activity following a judgment of judicial liquidation
  • Purchase of your principal residence (but in this case, the rights resulting from compulsory payments remain blocked).

Your collective company PER can be unlocked as soon as possible on the date you receive your retirement pension or when you have reached the legal retirement age (depending on your year of birth).

You can request that the savings resulting from the payments in your PER be paid:

  • either in capital,
  • either as a life annuity,
  • or partially in capital and annuity.

Savings from compulsory payments into a company PER are paid only as an annuity.

But if the monthly amount of the annuity does not exceed €110, the annuity may be converted into capital by mutual agreement between the insurer and the beneficiary of the annuity.

This possibility of conversion (or redemption) exists at the time of the release of the PER or even later when these low annuities are already being paid.

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Transfer of old savings products to Pereco

You can transfer retirement savings products that existed before 1er October 2019 on the collective company RIP:

  • Popular Retirement Savings Plan - Perp
  • Madelin contract
  • Prefon
  • Group Retirement Savings Plan - Perco
  • Mutual pension supplement - Corem
  • Hospital Retirement Supplement - CRH
  • Contract article 83.

The transfer must be made within a maximum of 4 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

In the event of a transfer of the amounts saved on a Perco to a collective company savings plan, the social security contributions in force at the time of the deposits are retained.

FYI  

The tax advantage linked to the transfer of an insurance contract of more than 8 years to a PER (doubling of abatements related to detention) ceased on 31 December 2022.

Transfer of the collective company RIP to another RIP

You can transfer the accumulated savings on the collective company PER to all other PERs. The transfer is possible at any time when you have left the company.

If you are still in the company, the transfer is also possible, but up to one transfer every 3 years.

The transfer is free if you have owned the product for at least 5 years. If you have owned the product for less than 5 years, the transfer fee may be charged to you, up to a maximum of 1% of outstanding amounts.

The transfer must take place within a maximum of 3 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

Taxation at entry

As long as they are made before your 70th birthday, the voluntary payments you make in a company PER in a year are deductible of your taxable income for this year. This deduction shall not exceed an amount fixed for each member of the tax home.

In 2026, the maximum amount deductible from your taxable income is equal to the greater of the following two amounts:

  • 10% of 2025 employment income, net of social security contributions and employment expenses, with a maximum deduction of €37,680,
  • or €4,710 if this amount is higher.

If you do not deduct voluntary payments from your taxable income, you will be taxed only on capital gains at the time of liquidation savings.

Amounts and rights from employee savings in company (incentives, participation, value sharing, employer contributions) voluntarily allocated in your company PER are exempt from income tax.

Taxation at exit

Output taxation depends on the nature of the payments which fed into the PER and the method of liquidation savings (annuity or capital):

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Voluntary payments tax deducted

Annuity outing
In 2025

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

For annuities paid in 2025, the social levies on investment income is of 17.2%.

From 2026

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The rate of social levies on investment income is of 18.6%, applicable to annuities paid from 1er January 2026.

Capital outflow
In 2025

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% under the social levies on investment income.

From 2026

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

Voluntary payments not tax deducted

Annuity outing

The annuity is taxable at income tax according to the applicable rules life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1er payment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable fraction of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow
In 2025

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% under the social levies on investment income.

From 2026

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

Company payouts from employee savings

Company payments from employee savings (incentives, participation, employer contributions) can be liquidated as an annuity or as capital:

Annuity outing

The annuity corresponding to payments from employee savings is taxable for income tax according to the rules applicable to Life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1erpayment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable portion of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow

The share of capital corresponding to payouts from employee savings is exempt income tax and social security contributions.

Only the share of capital corresponding to interest earned on the plan is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment products.

Compulsory payments

Savings from compulsory payments into a company PER are paid only as an annuity.

The annuity shall be taxed on income tax in accordance with rules applicable to retirement pensions. It is also subject to social security contributions.

But if the monthly amount of the annuity does not exceed €110, the annuity may be converted by mutual agreement between the insurer and the beneficiary of the annuity.

This possibility of conversion exists at the time of the release of the PER or even after when the annuities are already being paid.

In this case, the share of capital corresponding to mandatory company payments is subject to income tax, in the category of pensions and pensions, but without application of the 10%.

The share of capital corresponding to earnings is subject to the PFU (flat-rate levy) but with the possibility of an option for the application of the progressive scale of income tax.

This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

If you die, the plan will not be automatically closed.

The money you have saved will be returned to your heirs or beneficiaries that you have designated in the contract, in the form of capital or annuity.

If it is a plan opened in the form of a securities account, the sums saved and transferred shall be incorporated into theestate assets and taxed according to inheritance tax.

If it is a plan that has led to the adherence to a group insurance contractHowever, the sums saved and transferred are taxed according to rules similar to life insurance. The situation varies depending on whether the death of the PER holder occurred before or after 70 years.

Please note

In the event of death after age 70, the sums paid by the insurer (savings and earnings) are subject to inheritance tax after application of a abatement from €30,500. This allowance is global and must be shared between the beneficiaries and distributed according to their share in the taxable sums. Inheritance tax is calculated on the basis of the relationship between each beneficiary and the holder of the deceased PER.

Mandatory company RIP

The mandatory company PER (also called PERO) is a plan that is open to all employees of a company or reserved for certain categories of employees. The employees concerned have the obligation to subscribe. This plan succeeds the Article 83 contracts. The mandatory company PER entitles you to tax benefits and your rights are transferable to the other PERs. The plan's deadline is the retirement age, but with cases of early release.

The mandatory company PER (also called PERO) is a group retirement savings plan that can be set up by the company for all of its employees or for certain categories of employees. The implementation of this plan by the company is optional.

The categories of employees benefiting from the mandatory company PER must be defined on the basis of objective criteria.

If you are one of these employees, you must subscribe to the plan.

The mandatory company PER is set up in a company.

It can be created by

  • decision of the Head of company,
  • or ratification of an agreement by the majority of employees
  • or a collective agreement.

The company may choose to combine the voluntary group savings plan and the mandatory group savings plan into a single plan. Old savings plans, such as Perco and Article 83, can be transferred into a single plan.

Managed Management

Unless otherwise specified by you, the management of the amounts paid on the PER is done according to the principle of managed management. This means that when retirement is far away, savings can be invested in riskier, more rewarding assets. As retirement age approaches, savings are gradually being channeled into less risky vehicles.

The collective company PER must offer you at least one alternative investment medium, which allows you to invest in a solidarity fund.

Information of the employee

If you are one of the employees eligible for the mandatory company PER, the company must inform you of the mandatory nature of your membership in the plan.

It must also provide you with a regulation that informs you of the plan and its content.

Each year, the manager must give you the following information:

  • Evolution of savings
  • Financial performance of investments
  • Amount of fees charged
  • Conditions for transferring plan.

From the 5th year before your retirement age, you can ask the PER manager about exit options that are appropriate for your situation.

Payments by the employee

You can fund your mandatory company PER with:

  • Voluntary payments from you
  • Mandatory payments from you
  • Sums from the participation and profit-sharing, whether the company has a plan in place that benefits all employees
  • Amounts from the transfer of other retirement savings plans
  • Entitlements on a time savings account (CET)
  • In the absence of CET, amounts corresponding to days of rest not taken, up to a limit of 10 per year.
  • Payments of all or part of the value-sharing premium (PPV) or the premium resulting from the company valuation sharing plan (PPVE).

Payments by employer

The mandatory company PER may be funded by mandatory company payments.

Early release case

You can recover your savings early only in the following cases:

  • Disability (2nd or 3rd category) if you are disabled, or your children, spouse, or Civil partnership partner
  • Death of your spouse or Civil partnership partner
  • Expiry of your unemployment insurance rights or termination of the office of corporate officer for at least 2 years without an employment contract and without pension liquidation in a compulsory old-age insurance scheme
  • Over-indebtedness (in this case, the over-indebtedness commission must write to the managing body of the PER)
  • Cessation of self-employed activity following a judgment of judicial liquidation
  • Purchase of your principal residence (but in this case, the rights resulting from compulsory payments remain blocked).

Taxation applicable to capital arising from early release

The situation varies depending on the reason for the early release:

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General case

The share of capital corresponding to the payments made on the PER is exempt from income tax and social security contributions.

The share of capital corresponding to earnings is subject to social security contributions.

Release for the acquisition of the principal residence

The share of capital corresponding to voluntary payments deducted of taxable income is subject to income tax, without application of the 10%.

The share of capital corresponding to voluntary payments not deducted of taxable income is exempt from income tax. The same applies to the employee savings bonuses, rights held on one time savings account (CET) and the days off not taken.

The share of capital corresponding to earnings shall be subject to the single flat-rate levy (SSF).

Duties arising from compulsory payments are necessarily liquidated in the form of life annuity.

The rights resulting from the other payments (voluntary payments, participation, profit-sharing, CET days, etc.) may be liquidated as an annuity, as capital, partly as an annuity and as capital. Capital withdrawals can be split.

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Transfer of former savings products to the mandatory company PER

Retirement savings products existing before 1er October 2019 may be transferred to the mandatory company RIP:

  • Popular Retirement Savings Plan - Perp
  • Madelin contract
  • Prefon
  • Group Retirement Savings Plan - Perco
  • Mutual pension supplement - Corem
  • Hospital Retirement Supplement - CRH
  • Contract article 83.

The transfer must be made within a maximum of 4 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

FYI  

The tax advantage linked to the transfer of an insurance contract of more than 8 years to a PER (doubling of abatements related to detention) ceased on 31 December 2022.

Transfer from the mandatory company PER to another PER

You can transfer the accumulated savings on the mandatory company PER to all other PERs.

The transfer is possible when you no longer have the obligation to join the plan (departure of the company for example).

The transfer is free if you have owned the product for at least 5 years.

If you have held the product for less than 5 years, you may be charged a transfer fee, up to a limit of 1% of the accumulated savings.

The transfer must take place within a maximum of 3 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

Taxation at entry

As long as they are made before your 70th birthday, voluntary and compulsory payments in a company PER in a year are deductible from the taxable income of that year. This deduction must not exceed an overall ceiling amount set for each member of the tax home.

In 2026, the maximum amount of payments on your RIP is equal to the greater of the following two amounts:

  • 10% of 2025 employment income, net of social security contributions and employment expenses, with a maximum deduction of €37,680,
  • or €4,710 if this amount is higher.

If you do not deduct voluntary payments from your taxable income, you will be taxed only on capital gains at the time of liquidation savings.

Payments into a PER of sums and entitlements resulting from employee savings in company (incentive, participation, abundances employers) are exempt from income tax.

Taxation at exit

The exit tax depends on the nature of the payments that have fed the PER, and the method of liquidation of savings (annuity or capital):

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Voluntary payments tax deducted

Annuity outing
In 2025

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

For annuities paid in 2025, the social levies on investment income is of 17.2%.

From 2026

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The rate of social levies on investment income is of 18.6%, applicable to annuities paid from 1er January 2026.

Capital outflow
In 2025

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% social security contributions on investment income.

From 2026

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

Voluntary payments not tax deducted

Annuity outing

The annuity is taxable at income tax according to the applicable rules life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1er payment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable fraction of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow
In 2025

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% for social security contributions.

From 2026

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

Company payouts from employee savings

Payments from employee savings in company (incentives, participation, employer contributions) can be liquidated in annuity or capital:

Annuity outing

The annuity corresponding to payments from employee savings is taxable for income tax according to the rules applicable to Life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1erpayment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable portion of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow

The share of capital corresponding to payouts from employee savings is exempt income tax and social security contributions.

Only the share of capital corresponding to interest earned on the planis taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% for social security contributions.

Compulsory payments

Savings from compulsory payments into a company PER shall be paid only as annuity.

The annuity is taxed on income tax, depending on the rules applicable to retirement pensions, and social security contributions.

But if the monthly amount of the annuity does not exceed €110, the annuity may be converted into capital by mutual agreement between the insurer and the beneficiary of the annuity.

This possibility of conversion exists at the time of the release of the PER or even after when the annuities are already being paid.

In this case, the share of capital corresponding to the compulsory payments of the company is subject to income tax, in the category of pensions and pensions, but without application of the 10%.

The share of capital corresponding to earnings is subject to the PFU (single flat-rate levy), but with the possibility of an option for the application of the progressive income tax scale.

This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

If you die, the plan will be closed.

The money you have saved will be returned to your heirs or beneficiaries that you have designated in the contract, in the form of capital or annuity.

If it is a plan opened in the form of a securities account, the sums saved and transferred shall be incorporated into theestate assets and taxed according to inheritance tax.

If it is a plan that has led to the adherence to a group insurance contractHowever, the sums saved and transferred are taxed according to rules similar to life insurance. The situation varies depending on whether the death of the PER holder occurred before or after 70 years.

Please note

In the event of death after age 70, the sums paid by the insurer (savings and earnings) are subject to inheritance tax after application of a abatement from €30,500.

This allowance is global and must be shared between the beneficiaries and distributed according to their share in the taxable sums.

Inheritance tax is calculated on the basis of the relationship between each beneficiary and the holder of the deceased PER.